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British Sky Broadcasting Posts Rise In Profit

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British Sky Broadcasting Group PLC (OTC: BSYBY) reported a gain in its profit for the three months ended Sept. 30.

Its operating profit before exceptional items jumped 11% to GBP316 million, while net profit surged to GBP233 million versus GBP205 million.

Its adjusted earnings per share rose 8% to 14.1 pence.

The company's revenue climbed 6% to GBP1.93 billion ($3.08 billion). Retail subscription revenue rose 4% to £1,592 million, while wholesale revenue surged 9% to £105 million. Advertising revenue climbed 6% to £108 million.

Jeremy Darroch, Chief Executive, commented, “This strong financial performance was fuelled by continued operating momentum. We are seeing broad customer demand for our products whilst opening up new revenue opportunities. In all, we added 760,000 new paid-for products, 8% more than the previous quarter.”

British Sky Broadcasting shares fell 1.67% to close at $55.30 yesterday.

 

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